Fiscal Cliff Talks Resume After GOP Caves On Social Security Cut Talking Points Memo ...Negotiations stalled Saturday night when Minority Leader Mitch McConnell pushed a Social Security benefit cut as a way to offset spending measures including emergency unemployment benefits. Democrats balked, leaked the offer to the media, and Republicans quickly retracted the demand...
House prepares three 'milk cliff' bills The Hill ...The three bills are aimed at preventing a spike in dairy prices looming in the new year. Because Congress has failed to renew farm programs, an underlying 1949 law is slated to kick in. This would force the government to buy up American milk at inflated prices and the purchases are expected to possibly double the price of milk at the grocery store as supplies dwindle...
Occupy Wall Street Labeled "Terrorists" By The FBI Economic Populist ...Wonder why all of a sudden cities across America coordinated and shut down the Occupy Wall Street movement? Now we know and it was coordinated by the banks. The FBI, DHS, police, and private-sector financial businesses all coordinated to repress the people and suppress a movement...
Cheap Shots 2012: Scott Walker The Daily Isthmus ...For the second year in a row, we find it impossible to come up with a single Cheap Shot Award for our governor, who continued to put politics before policy, cater to monied interests and sow division among an already deeply divided state...
Auditors uncover problems at private prisons in Ohio Dayton Daily News ...unsafe and unsanitary conditions were documented by state monitors at one of Ohio’s privately-run prisons forcing the new operator to make major changes less than one year after taking control of the facility...
Tribune media company to emerge from bankruptcy Raw Story ...The company owns 23 television stations and a number of leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, and Orlando Sentinel...
UPS: A Wonderful Company At A Fair Price Seeking Alpha ...UPS continues to benefit from the growth of online ordering from companies such as Amazon (AMZN)...
Showing posts with label Tribune Co.. Show all posts
Showing posts with label Tribune Co.. Show all posts
Monday, December 31, 2012
Tuesday, November 16, 2010
Today's Teamster News 10.16.10
Rahm Emanual leading in Teamsters mayoral poll Chicago Sun-Times ...A poll conducted for Chicago Teamsters Joint Council 25 in the upcoming Chicago mayoral race shows former White House Chief of Staff Rahm Emanuel far ahead of his rivals...
City Workers Chip In For Holiday Tradition Clickon Detroit ...Teamster members ... pitched in Monday night to bring Christmas back to ... budget-torn ...Romulus, Mich.
Spending Worries Put Jobless Benefits at Risk Wall Street Journal ...Congress is unlikely to agree to extend jobless benefits for two million unemployed workers by the time the program begins to lapse in two weeks...
Sam Zell to Bow Out of Tribune Wall Street Journal ...Zell said Monday that he doesn't see himself having an operating role in the media company after it exits bankruptcy...
As Payouts Rise, New Tactics by the U.S. Pension Insurer New York Times ..Even though the government pension agency made sharply higher payments to retirees of bankrupt companies last year, it is using new legal tools to make hobbled companies carry more of the burden and protect itself...
States Won't be Able to Reroute High-Speed Rail Funding Washington Post ...The Obama administration plans to reallocate money designated for high-speed rail (to other states) if the states granted the funds reject them...
City Workers Chip In For Holiday Tradition Clickon Detroit ...Teamster members ... pitched in Monday night to bring Christmas back to ... budget-torn ...Romulus, Mich.
Spending Worries Put Jobless Benefits at Risk Wall Street Journal ...Congress is unlikely to agree to extend jobless benefits for two million unemployed workers by the time the program begins to lapse in two weeks...
Sam Zell to Bow Out of Tribune Wall Street Journal ...Zell said Monday that he doesn't see himself having an operating role in the media company after it exits bankruptcy...
As Payouts Rise, New Tactics by the U.S. Pension Insurer New York Times ..Even though the government pension agency made sharply higher payments to retirees of bankrupt companies last year, it is using new legal tools to make hobbled companies carry more of the burden and protect itself...
States Won't be Able to Reroute High-Speed Rail Funding Washington Post ...The Obama administration plans to reallocate money designated for high-speed rail (to other states) if the states granted the funds reject them...
Monday, October 25, 2010
Today's Teamster News 10/25/10
Safety Chief Warns China on Toys Wall Street Journal ...The CPSC ... in 2009 ... stopped nearly twice as many products at ports as in 2008, and of 1,800 samples collected more than half showed evidence of a safety hazard...
Creditors Back Plan At Tribune Wall Street Journal ...a bankruptcy judge granted Tribune's official committee of unsecured creditors the right to sue some of the parties that helped engineer the ill-fated buyout...
School Bus Drivers Vote To Unionize With Teamsters KAKE ...drivers have no retirement plan options or health insurance benefits. Organizing with the Teamsters Union will give them the opportunity to bargain with the company for contracts that might include those types of things...
Labor officials meet in Wichita to discuss "wage theft" problem Associated Press ...Kansas Labor Secretary Jim Garner told the group that his office collects more than $1 million a year in wages that were wrongfully withheld from workers...
Teamster badass fights off thieves who threatened his life and jobs Teamster Magazine ...When Patrick Johnston, a Local 624 Teamster in Santa Rosa, Calif., saw two thieves coming at him with sticks, he knew he was in for the fight of his life...
Creditors Back Plan At Tribune Wall Street Journal ...a bankruptcy judge granted Tribune's official committee of unsecured creditors the right to sue some of the parties that helped engineer the ill-fated buyout...
School Bus Drivers Vote To Unionize With Teamsters KAKE ...drivers have no retirement plan options or health insurance benefits. Organizing with the Teamsters Union will give them the opportunity to bargain with the company for contracts that might include those types of things...
Labor officials meet in Wichita to discuss "wage theft" problem Associated Press ...Kansas Labor Secretary Jim Garner told the group that his office collects more than $1 million a year in wages that were wrongfully withheld from workers...
Teamster badass fights off thieves who threatened his life and jobs Teamster Magazine ...When Patrick Johnston, a Local 624 Teamster in Santa Rosa, Calif., saw two thieves coming at him with sticks, he knew he was in for the fight of his life...
Thursday, October 21, 2010
Today's Teamster News 10/21/10
California: Solar Plant Advances Associated Press ...a big solar energy plant in the Mojave Desert on Wednesday (was approved) ... making it the fifth such project on public land in the West to win federal authorization...
Teamsters Local 331 leaders vow better pay, dedicate hall in Egg Harbor City PressofAtlanticCity.com ... Teamsters Local 331 dedicated its new headquarters Wednesday with a promise of providing better-paying jobs for many of southern New Jersey's unemployed workers...
Jeffboat owner to be bought by private equity firm Louisville Courier-Journal ...A private equity firm has proposed to buy American Commercial Lines, owner of the Jeffboat shipyard in Jeffersonville, Ind....
Voters In Four States Facing Anti-Union Ballot Questions ThinkProgress ...they are an attempt at preempting the strengthening of unions through the Employee Free Choice Act...
Tribune Set to Name Caretaker Managers Wall Street Journal ...Tribune Co.'s board is preparing to replace Chief Executive Randy Michaels with a four-person caretaker management team to steer the company as it attempts to exit bankruptcy...
French Leader Vows to Punish Violent Protesters New York Times ...Sarkozy warned on Thursday that “troublemakers” using violence in the protests against his proposed pension changes would be pursued and punished...
Teamsters Local 331 leaders vow better pay, dedicate hall in Egg Harbor City PressofAtlanticCity.com ... Teamsters Local 331 dedicated its new headquarters Wednesday with a promise of providing better-paying jobs for many of southern New Jersey's unemployed workers...
Jeffboat owner to be bought by private equity firm Louisville Courier-Journal ...A private equity firm has proposed to buy American Commercial Lines, owner of the Jeffboat shipyard in Jeffersonville, Ind....
Voters In Four States Facing Anti-Union Ballot Questions ThinkProgress ...they are an attempt at preempting the strengthening of unions through the Employee Free Choice Act...
Tribune Set to Name Caretaker Managers Wall Street Journal ...Tribune Co.'s board is preparing to replace Chief Executive Randy Michaels with a four-person caretaker management team to steer the company as it attempts to exit bankruptcy...
French Leader Vows to Punish Violent Protesters New York Times ...Sarkozy warned on Thursday that “troublemakers” using violence in the protests against his proposed pension changes would be pursued and punished...
Thursday, October 7, 2010
The moral to this shocking story: It pays to be union!
It took real estate billionaire Sam Zell just one year to drive the Tribune Co. into bankruptcy, after dissolving the employees' 401(k) plans and diverting their contributions.
Because of the way Zell structured the his purchase of the Tribune Co., workers technically own the company. But they'll get nothing from the bankruptcy settlement. The only group of workers who won't be left high and dry in retirement (other than Zell's pals in management) are Teamster-represented Tribune workers. They're still receiving contributions to their pension funds as required by their collective bargaining agreements.
Sadly, it isn't really shocking that a private leveraged buyout would result in the destruction of a functioning business like the Tribune Co., which owns the Chicago Tribune, the Los Angeles Times and WGN. The Teamsters have had plenty of nasty experiences with private equity firms. They tend to buy profitable companies, load them with debt, loot the assets and then kick their worthless carcasses to the curb.
What is shocking about the Tribune Co. is the way the new management abused employees. As The New York Times reported, executives'
Now Teamsters are generally not offended by a little bad language. But according to the Times,
In that "nonlinear atmosphere," 4,200 employees lost their jobs. The Tribune Tower was turned into a virtual frat house, the immensely popular WGN-AM radio station was ruined and longtime employees quit because they couldn't stand the work atmosphere.
Said the former managing editor,
How much will top management award itself for driving the Tribune Co. over a cliff in a year?
They've proposed bonuses of $100 million for themselves for 2010.
Now that's shocking.
Because of the way Zell structured the his purchase of the Tribune Co., workers technically own the company. But they'll get nothing from the bankruptcy settlement. The only group of workers who won't be left high and dry in retirement (other than Zell's pals in management) are Teamster-represented Tribune workers. They're still receiving contributions to their pension funds as required by their collective bargaining agreements.
Sadly, it isn't really shocking that a private leveraged buyout would result in the destruction of a functioning business like the Tribune Co., which owns the Chicago Tribune, the Los Angeles Times and WGN. The Teamsters have had plenty of nasty experiences with private equity firms. They tend to buy profitable companies, load them with debt, loot the assets and then kick their worthless carcasses to the curb.
What is shocking about the Tribune Co. is the way the new management abused employees. As The New York Times reported, executives'
...use of sexual innuendo, poisonous workplace banter and profane invective shocked and offended people throughout the company...
Now Teamsters are generally not offended by a little bad language. But according to the Times,
One of their first priorities was rewriting the employee handbook.
“Working at Tribune means accepting that you might hear a word that you, personally, might not use,” the new handbook warned. “You might experience an attitude you don’t share. You might hear a joke that you don’t consider funny. That is because a loose, fun, nonlinear atmosphere is important to the creative process.” It then added, “This should be understood, should not be a surprise and not considered harassment.”
In that "nonlinear atmosphere," 4,200 employees lost their jobs. The Tribune Tower was turned into a virtual frat house, the immensely popular WGN-AM radio station was ruined and longtime employees quit because they couldn't stand the work atmosphere.
Said the former managing editor,
“They wheeled around here doing what they wished, showing a clear contempt for most everyone that was here and used power just because they had it. They used the notion of reinventing the newspapers simply as a cover for cost-cutting.”
How much will top management award itself for driving the Tribune Co. over a cliff in a year?
They've proposed bonuses of $100 million for themselves for 2010.
Now that's shocking.
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